In a regulatory filing made during market hours today, the company said that Antony Lara Enviro Solutions has entered into share subscription agreement and shareholders’ agreement with JFE Engineering Corporation, Japan, for an investment of over 750 million yen in two special purpose vehicles (SPVs), namely Kadapa Renew Energy and Kurnool Renew Energy.

The aforementioned SPVs have been incorporated for setting up of two waste-to-energy (WtE) projects in Andhra Pradesh.

The proposed investment shall be made through a primary issuance of shares by the aforesaid SPVs, pursuant to which JFE Engineering Corporation will acquire a minority equity stake of 25% in each of the SPVs.

Antony Waste Handling Cell is engaged in the business of mechanical power sweeping of the roads and collection & transportation of municipal solid waste.

The company had reported 27.03% fall in consolidated net profit to Rs 11.50 crore despite an 8.12% rise in revenue to Rs 262.44 crore in Q3 FY26 as compared with Q3 FY25.